Regulators Investigating Bank Data Breach
Swiss regulator FINA is investigating an incident of data theft at HSBC holdings, the largest bank in Europe.
Earlier, the bank said an incident of data theft by a former employee led to the compromise of approximately 24,000 client accounts.
Following the incident, FINA is investigating HSBC to determine what new measures and policies have been enacted to guard against and mitigate any future incidents and ensure that these policies and procedures adhere to the law.
Insider threats can be some of the most damaging that companies experience. Since insiders know the system and where information is stored, it is significantly easier for them to steal data and compromise information stored on company systems.
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HSBC has been covering up alot of their banking theft from internet. Check out the HSBC Bank Berhad matter in Malaysia where money was stolen from a client’s bank account by another HSBC bank client. The bank caught the culprit, however have been deferring settlement to the victim coming to 5 years now in the High courts of Malaysia. They do not want to accept liability and want a conditional return of stolen money by their own customer and not hold HSBC liable……
At the time the HSBC Bank did not issue its victim with any security device… and their head of banking security officer claimed that their bank is secure….
I believe this was an inside job taking money from an account that had only inbounds for the past few years it was opened….